The Obama administration released its plan Monday for reducing the federal budget deficit by $4 trillion over 10 years. The measures, presented as a proposal to the bipartisan deficit committee established by the debt-ceiling bill passed in August, would slash hundreds of billions of dollars from social programs.
Among the services and programs targeted are the primary government health care programs Medicare and Medicaid, federal workers’ retirement benefits, veterans’ benefits, unemployment insurance and the US Postal Service.
Obama’s cynicism and dishonesty are perhaps most clearly revealed by his tax proposals, which are being presented by the media as an effort to increase taxes on the wealthy and corporations. In fact, the administration is strongly backing comprehensive “pro-growth” tax reform, which would significantly reduce the top income tax rate and the corporate tax rate in exchange for the elimination of certain loopholes in the tax code.